Wynn Resorts posted mixed results for Q4 and 2025 overall, as operating revenue increased from $1.84 billion to $1.87 billion; however, adjusted property EBITDAR decreased from $619.1 million to $568.8 million. Net income also fell from $277 million to $100 million in Q4, while full-year results showed $7.14 billion in revenue in 2025, almost equal
Wynn Resorts posted mixed results for Q4 and 2025 overall, as operating revenue increased from $1.84 billion to $1.87 billion; however, adjusted property EBITDAR decreased from $619.1 million to $568.8 million.
Net income also fell from $277 million to $100 million in Q4, while full-year results showed $7.14 billion in revenue in 2025, almost equal to the $7.13 billion in 2024. On the other hand, full-year net income fell from $501 million in 2024 to $327 million in 2025, and adjusted property EBITDAR reached $2.22 billion, down from $2.36 billion in 2024.
Turning to the Las Vegas segment, Wynn generated $240.8 million in adjusted property EBITDAR on $688.1 million in revenue during the last quarter, which was $11.4 million less than in the same period in 2024.
Wynn Resorts CEO Craig Billings commented:
“We feel good about our ability to perform really, really well in 2026. I mean, by any kind of historical standards, Wynn Las Vegas is absolutely crushing it.”
Encore Boston Harbor reached $210.2 million in revenue and $57 million in adjusted property EBITDAR. Meanwhile, Wynn’s Macau venues, including Wynn Palace and Wynn Macau, generated $270.9 million in adjusted property EBITDAR on $967.7 million in revenue. VIP turnover jumped 48% year-over-year, while mass drop climbed 18%.
Wynn is also moving forward with the construction of Wynn Al Marjan Island in the UAE, as in Q4, the company topped out the 70th floor of the tower.